NEW YORK (CNNMoney.com) - Coin collectors can look forward to a new series of gold-colored dollar coins depicting portraits of former presidents, according to a report published Friday.

USA Today, citing legislation sent to President Bush on Thursday, said the U.S. Mint will produce four coins each year beginning in 2007 in the order in which the presidents served.

Keeping with tradition, the report said no living presidents will appear on the coins, and the Statue of Liberty will be on the reverse side of the dollars. Grover Cleveland will be on two coins because he served non-consecutive terms, the newspaper said.

The Mint will also make commemorative coins in 24-karat gold, the highest quality ever used, of the presidents' spouses, according to the report.

The new coins could become popular collectors' items, the newspaper said, as well as entice people to use change instead of dollar bills. Additionally, they could save the government approximately $500 million a year simply because they last longer than paper dollars, the newspaper said, citing a 2002 report from the Government Accountability Office.

Could the dollar coins eventually replace the paper dollar? Some are betting against that happening. Rep. Mike Castle ( R-Del.), who led the effort for the presidential dollar coins, told the newspaper that it's unlikely the new coins will knock down the paper version.

However, similar to the state quarter program that generated about $4 billion for the Mint, Castle said the dollar coins will be great for collectors and can act as a history teaching tool.

After getting the old ones at the change machine at work I have come to hate the dollar coins. I spend them to easy and they are easy to lose.

They seem like tokens

We might want hookers and blow, but if we are lucky we will settle for porn and painpills.

Any coins/money they can talk the sheeple into collecting does not increase the amount of funds in circulation thus printing more money does not de-value the junk they already printed. Just like the post office and collector stamps. Buy the stamps never use post office gets the money but never delivers the service.

My wife does not like me, my daughter does not like me, why in hell should I care what someone on the internet who I have never met thinks of me. Your hatred-foo is weak.

Originally Posted By twonami:I do confess to collecting only gold coins and I have a decent amount of the Canadian golds in my stash.

I love the 1oz Canadian Maple Leaf gold coins. I have about a dozen of them. I have quite a few American gold $20 Eagles and Kuggerands(sp?) as well just for bullion accumulation, but the Maple Leaves are so beautiful. A few Chinese Panda's, Australian Nuggets, and Mexican gold coins have found their way into my stash as well.

Originally Posted By Samstead:Dollar coins would be ok IF they didn't make them almost the same damn size as a quarter.

Take a look at (feel of) the British Pound coin. By making it about 50% thicker than their other coins, they have made it easily distinguishable from other coins. One of the few things that they got right.

Originally Posted By Samstead:Dollar coins would be ok IF they didn't make them almost the same damn size as a quarter.

Take a look at (feel of) the British Pound coin. By making it about 50% thicker than their other coins, they have made it easily distinguishable from other coins. One of the few things that they got right.

Originally Posted By Taxman:The new coins could become popular collectors' items, the newspaper said, as well as entice people to use change instead of dollar bills. Additionally, they could save the government approximately $500 million a year simply because they last longer than paper dollars, the newspaper said, citing a 2002 report from the Government Accountability Office.

Here is the crux of the matter, it is the govt attempt to save money because coins cost less over time. The govt is now up to its eyeballs in Susan B Anthony and Sacagiwa dollars, and they are going to make more of the same with a different twist, ugh!

Other countries have holes in some coins, others have made them thicker while others have made them multi sided. If the U.S. Mint insists on making a $1 coin, stop making the $1 bill and have just the coin. But do something to make it completely different than any other coin.

Myself, I like

Some people just don't know how to drive... I call these people "Everybody But Me,"